These posts were originally posted on the MoneySavingForums (a UK money management site), I am moving my journals across to WordPress to have them in chronological order. I’m not sure how much of other people’s words I’m allowed to copy across from one site to another, so in some sections I may summarise conversations.
I’ve adjusted two of my category goals on the YNAB app: Amazon Prime and Pride Savings.
For Amazon Prime I’ve just cancelled the goal entirely, so next month it wont prompt me to put money in there. I’ve left the current £7.99 in there for now as I cancelled my subscription pretty close to the debit date.
For Pride Savings the goal used to be “contribute £10 every month” and so far I’ve saved £100. I’ve changed the goal to be “save £120 by June 2021” … all the Prides I would have gone to this year are cancelled.
I’ve already put in £10 in May so from June it’ll ask me to out in £1.54 each month. The advantage of this goal is that it will adjust itself if I have to borrow from the category for any reason. If I need to borrow £20 around Christmas time, for example, it will change the amount I need to contribute each month to have £120 by June 2021.
I don’t even know if £120 is the right amount – I didnt keep track of how much I spent last year – but I’d rather over save than under save, I’m sure I’ll still have other categories I can move any excess money into next year. If I go to more than one Pride I could see myself spending £120 across multiple events.